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作者：Brainard, SL; Verdier, T
作者单位：National Bureau of Economic Research; Universite PSL; Ecole Normale Superieure (ENS); Centre for Economic Policy Research - UK
摘要：Many observers have noted a strong tendency for protection, once it is instituted, to persist over time, This paper first shows that persistent protection arises whenever lobbying is an alternative to costly adjustment, With endogenous protection, the level of tariffs is an increasing function of past tariffs: the more an industry lobbies, the greater the current protection it receives and the less it adjusts, and the less the industry adjusts the more effective it is as a lobby in the future....
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作者：Williamson, JG
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作者：vanMarrewijk, C; Stibora, J; deVaal, A; Viaene, JM
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Tinbergen Institute; University of London; London School Economics & Political Science; University of Groningen
摘要：We unite the theories of factor abundance and monopolistic competition to explore the general equilibrium relations between trade in producer services, economies of scale and factor markets. In our model, two final goods are produced using capital, labor, and a variety of differentiated producer services that are produced under increasing returns to scale. We analyze the implications for comparative advantage and trade in goods between two countries that differ in factor endowments and in tech...
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作者：Feenstra, RC; Kendall, JD
作者单位：University of California System; University of California Davis; University of California System; University of California Berkeley; National Bureau of Economic Research; Nanyang Technological University
摘要：In this paper we develop and test two hypotheses about purchasing power parity (PPP). The first is that changes in the price of traded goods relative to domestic substitutes will affect the PPP relation, due to the partial pass-through of exchange rates. The second is that PPP should hold on forward rather than spot exchange rates, due to hedging by firms, which implies that the interest rate differential should enter the PPP relation for spot rates. Using quarterly data for several countries,...
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作者：Miyagiwa, K; Ohno, Y
作者单位：Oregon State University
摘要：The Spencer-Brander argument for strategic R&D policy (Review of Economic Studies, 1983, 50, 702-722) is re-examined within an intertemporal model of stochastic innovation. It is shown that an optimal policy is independent of the choice of strategic variables in product market competition but sensitive to the appropriability of the new technology. At low or high degrees of appropriability R&D taxes are an optimal policy but at intermediate degrees R&D subsidies may be optimal. The paper explai...
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作者：Aitken, B; Hanson, GH; Harrison, AE
作者单位：University of Texas System; University of Texas Austin; International Monetary Fund; Columbia University; National Bureau of Economic Research
摘要：Case studies of export behavior suggest that firms that penetrate foreign markets reduce entry costs for other potential exporters, either through learning effects or establishing commercial linkages. We examine whether spillovers associated with one firm's export activity reduce the cost of exporting for other firms. We identify two sources of spillovers: export production in general and the specific activities of multinationals. From a simple model of export behavior we derive a probit speci...
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作者：Cremers, ET
摘要：This paper explores the role of arbitrary assumptions regarding dimension and the tradeability of capital in neoclassical growth models. It is shown that international markets for physical and financial capital are required to reproduce the competitive world growth path only when the number of traded (non-capital) goods is less than the number of factors, provided that countries are diversified along their growth paths. Capital markets compensate for lacking consumption good markets in models ...
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作者：Baldwin, RE
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作者：Lahiri, S; RaimondosMoller, P
作者单位：Copenhagen Business School; University of Essex
摘要：This paper considers the optimal allocation of a given amount of foreign aid between two recipient countries. It is shown that, given consumer preferences, a country following a more restrictive trade policy would receive a smaller share of the aid if the donor country maximises its own welfare in allocating aid. If, on the other hand, the donor country allocates aid in order to maximize the sum of the welfare of the two recipient countries, the result is just the opposite, Finally, we analyze...
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作者：Lyons, RK
摘要：This paper develops a simultaneous trade model of the spot foreign exchange market (cf., the sequential trade approach to dealing). The model produces hot-potato trading - a term that refers to the repeated passing of inventory imbalances between dealers. At the outset, risk-averse dealers receive customer orders that are not generally observable. Dealers then trade among themselves. Thus, each dealer intermediates both his customers' trades and any information contained therein. This informat...
